Gasoline

Gasoline Rises to $2.13 Per Gallon

April 18, 2016
• by Staff

Photo via Wikimedia.

The national average price of a gallon of unleaded gasoline increased 6.8 cents to $2.137 for the week ending April 18, federal records show.

The average price is now 34.8 cents lower than a year ago, as it increased in nine regions tracked by the U.S. Energy Information Administration. Prices increased most in the Midwest, where the average price added 9.2 cents to $2.057. New England and the Central Atlantic regions increased 8.3 cents ($2.155) and 8.2 cents ($2.171) respectively. Eight regions are now above $2 per gallon. Gulf Coast gasoline is now $1.91.

Among states, California gasoline ($2.785) remains the most expensive, while Mississippi gasoline ($1.891) is the cheapest. Thirteen states now have gasoline under $2, according to the AAA's Daily Fuel Gauge Report.

Meanwhile, the average price of a gallon of diesel increased 3.7 cents to $2.165. Diesel is now 61.5 cents lower than a year ago.

The average fuel economy of new vehicles sold in the U.S. in December fell to 25 mpg — down 0.2 mpg from a revised November value, according to Brandon Schoettle and Michael Sivak, researchers from the University of Michigan's Transportation Research Institute (UMTRI).

The national average price of unleaded gasoline jumped 5 cents to $2.49 per gallon in the first week of 2018 and has reached a level not seen since 2014 during the week that starts the new year, according to AAA.

China is setting a deadline for automakers to end the sale of fossil-fuel powered vehicles as the country looks to reduce oil consumption and pollution and push for the development of electric vehicles. Regulators are working on a timetable for the ban.

The average national price of gasoline remained at $2.29 per gallon for the week ending March 27 amid discussion by the Organization of the Petroleum Exporting Countries (OPEC) to extend a production cut by another six months.